Why is the value of Litecoin soaring today?

Litecoin (LTC), a network currency based on peer-to-peer technology, is also an open source project under the MIT/X11 license. It can help users pay in time to anyone in the world. Until now, what is the litecoin value today?Litecoin (LTC), a network currency based on peer-to-peer technology, is also an open source project under the MIT/X11 license. It can help users pay in time to anyone in the world. Until now, what is the litecoin value today?

Asked on July 13, 2018 in Altcoin.
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Litecoin (LTC), a network currency based on peer-to-peer technology, is also an open source project under the MIT/X11 license. It can help users pay in time to anyone in the world. Until now, what is the litecoin value today?

In recent days, bitcoin prices have skyrocketed, and its gains are staggering. In fact, the price of another cryptocurrency has also skyrocketed, and its increase is even more exaggerated than bitcoin. The price of Litecoin today rose to $365, a four-fold increase from a week ago.

The latest price of Litecoin today, the price of Litecoin rose by an astonishing 91% from the previous trading day, and it was reported at $365 on Tuesday afternoon, almost four times that of a week ago. In addition, although bitcoin prices are currently not far from the historical high of $17,300, their gains this week are only average. The litecoin value today rose to $365. In the past seven days, Bitcoin has risen 40%, and it has risen more than 200%. A trading platform shows that at the beginning of this year, its trading price was less than $6, and this Tuesday it exceeded $380. It is also based on blockchain technology, but generates Litecoin that trades far faster than Bitcoin.

Litecoin currently has a market capitalization of approximately $17.5 billion and is the cryptocurrency of Bitcoin, Ethereum and Bitcoin cash, only 6% of the market value of Bitcoin.

Let’s take a look at the reasons for the rise of Litecoin:

First: the recent three lows of the Litecoin retreat are gradually rising, the lows and highs are rising, the strength of many parties is strong, and the obvious bullish uptrend trend. After breaking the high pressure level near 380, the probability is to open a wave. Rise.

Second: From the perspective of time period, since July 5th, Litecoin has fallen, and the time before the rise has been adjusted for more than one and a half months. In addition, Litecoin opened the lightning network in August. Lightning Network is a decentralized system. Its excellence is that real-time, massive trading network can be realized without trusting the other party and third parties, which greatly increases the transaction speed and user experience of Litecoin, so its price is also affected.

Third: The recent cryptocurrency asset market is relatively strong, mainly in bitcoin, while Bitcoin has similar properties. Litecoin has a relatively low price, long running time and high user size and popularity around the world. In addition, the recent bitcoin trend has stagflation. Therefore, the funds in the market need to find a breakthrough in catharsis. The Litecoin currency has not experienced a sharp rise in the recent consolidation, but it should start a wave of upswing.

Answered on July 13, 2018.
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